Porsche CEO confirms bespoke three-row all-electric SUV

In a recent interview, Porsche CEO Oliver Blume confirmed that the German automaker plans to launch a new all-electric sports SUV that will be positioned as a top model above the Cayenne and Macan. The new SUV appears to have been accelerated somewhat as Porsche faces delays to its all-electric Macan SUV due to software development issues at parent company Volkswagen Group.

In case you’ve lived in a bunker all your life, Porsche AG is a German sports car manufacturer with nearly a century of experience in speed and elegance. Like many veteran automakers, Porsche has built its heritage on combustion vehicles like cayenne, Boxster and 911 Turbo. That being said, it has recently shifted its vehicle development towards electric vehicles.

This EV transition started with the ever-popular Taycan, which is supposed to be followed by an all-electric Macan (more on that later). Following this first Taycan success, Porsche CEO Oliver
Blume has accelerated the company’s electric vehicle goals to electrify 80% of vehicles by 2030:

In 2025, half of new Porsche sales should come from the sale of electric vehicles, i.e. all-electric or plug-in hybrids. By 2030, the share of all new vehicles with all-electric propulsion is expected to exceed 80%.

News has appeared earlier this month, Cariad, an electric vehicle software developer and subsidiary of the Volkswagen Group, faced development issues threatening to delay production of Bentley’s 2030 electrification targets. Additionally, the software issues could delay the production schedules of the upcoming Porsche Macan electric SUV and sister model Audi Q6 e-tron, both of which were due to launch next year.

Now, with a Porsche IPO vital to the Volkswagen Group’s growth looming and potential delays in electric vehicle production, the sports car maker is apparently developing its most expensive SUV yet… and it will be fully electric. .

Porsche’s Mission R concept / Source: Porsche

Porsche’s new electric SUV will feature technology from Mission R

According Automotive News EuropePorsche CEO Oliver Blume has confirmed a bespoke electric SUV model code name “K1” targeted for the middle of the decade. Blume elaborated on the recent Porsche capital markets day:

We plan to add a new fully electric luxury SUV model to our attractive portfolio, rolling off the production line in Leipzig. This will further strengthen our position in the luxury automotive segment. We particularly target higher margin segments and thus seek to seize new sales opportunities.

Additionally, Porsche has announced that the new premium electric SUV will feature some of the technology from the Mission R concept shown at the IAA in Munich last year, including its direct oil-cooled electric motor.

Other Mission R features include natural fiber reinforced plastic (NFRP) rather than traditional carbon fiber, a 920V electrical system and a high performance battery. Porsche hasn’t confirmed that any of these additional components will make it a new SUV, but did confirm that it could feature third-row seats, which would be a world first for Porsche.

Previously, Porsche worked with Quantumscape to integrate solid-state batteries into a 911 – whether it will be a PHEV or a BEV remains unclear at this stage, even after Oliver Blume said the coupe long-lasting sport would never be electrified. Either way, solid-state batteries might be more feasible by the time Porsche’s electric SUV goes into production and would certainly pair well with the fast charging rates a 920V platform can provide.

100% electric Boxsters and/or Caymans are coming?

Despite the delays on the all-electric Macan, Blume stuck to Porsche’s electrification goals for the decade, and even shared his intentions for an additional EV model to come:

The Taycan is 100% electric and 100% Porsche. This combination excites people. We are continuing our electric offensive: by the middle of the decade, we want to offer our sporty mid-engine 718 exclusively in 100% electric.

For those unaware, Porsche’s 718 models refer to the two-seater Boxster and Cayman, so in addition to an all-electric Macan and the new premium SUV, consumers may also see a Boxster or Cayman BEV d by around 2025. That should be good news for investors, as Porsche is looking to go public in the fourth quarter.

In a recent report on Volkswagen Group’s goals to overtake Tesla in electric vehicle sales by 2024, we noted that Porsche’s IPO will be imperative for VW Group to maximize its valuation as it sells its minority stake, providing more cash flow to accelerate its own transition to electrification. . Current IPO prospects have valued Porsche at 80-90 billion euros ($81.4-92.2 billion).

Looking ahead, Porsche has already shared that the all-electric Macan has been pushed back a year to 2024 due to the aforementioned development issues at Cariad. That said, this news of a bespoke electric SUV seems timely as Porsche looks to stay in the market‘s good graces ahead of its IPO.

If Porsche can deliver, we as EV fans win. We look forward to more and more BEVs joining the Taycan…hopefully sooner rather than later.

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